The Market Report
Jackson Hole Real Estate Associates
exclusively owns and maintains the valley’s
oldest and most comprehensive database.
Our Market Report, unlike others in the
area, is derived from this proprietary, fortyyear old database (not just MLS data) and
draws on our brokerage’s decades of
success, making it the most trusted and
accurate real estate report in the region.
No other brokerage or agent has the
resources available to offer this depth of
expertise or insight into market conditions.
The unmatched resources and knowledge
of Jackson Hole Real Estate Associates –
the largest and most dynamic real estate
company in the region – combined with
the largest independent affiliate networks,
Christie’s International Real Estate and
Leading Real Estate Companies of the
World, allows us to offer the ideal balance
of local expertise and global reach.

As the region’s largest and most dynamic real estate company, Jackson Hole Real
Estate Associates provides marketing and services that honor this remarkable
destination. We are committed to being the leading luxury real estate brand in
the Teton region. By staying on top of market trends and continually striving to
offer cutting-edge marketing and advertising strategies we deliver extraordinary
experiences that exceed our clients’ expectations.
As a market leader in Jackson Hole, we believe the success of our company is
based on the value that we provide for our clients, community and agents. It is
this value-driven philosophy that has helped to guide the successful growth of
our organization. There is no real estate company in the region that provides
more exposure for listings or more choices for buyers.

* The statistics used in this report are from the Teton Multiple Listing Service (MLS) and JHREA’s internal database.
* This report does not go into detail on every segment of the market, but is intended to offer an overview of
general market conditions.
* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
* Statistics are cumulative.

On behalf of our team of dedicated professionals at Jackson Hole Real
Estate Associates, we are pleased to present our comprehensive Market
Report for year-end 2018. In this detailed report, you will find information
on the market segments making up the region. As the leading brokerage
in Jackson Hole, we have developed a dynamic report that sheds fresh
light on the trends that are shaping our real estate market.

Please do not hesitate to contact our experienced team of
professionals for more information specific to your area.

bringing in 10% more
transactions and a 35% increase in dollar
volume. Average and median sale prices were also
up, increasing 16% and 11%, respectively. Several

TOTAL NUMBER OF
TRANSACTIONS
10% Increase over
the prior year

estate market, with 2018

notable sales drove these figures, including the sale of

$1,818,767

AVERAGE SALE PRICE
16% Increase over the
prior year

the Snow King Hotel, a historic ranch property southeast
of town, and a ranching / equestrian property on Spring
Gulch Road. Properties

under $500,000 have
become even more difficult to find, evidenced

$992,500
MEDIAN SALE PRICE
11% Increase over
the prior year

by a 24% decrease in sales. That category made up only
12% of the year’s transactions. Most sales took place in
the $500,000 – $1 million segment, accounting for 36% of
sales. Single

family homes accounted for about

44% of all transactions this year, a 20% increase
over 2017. Overall, inventory dropped about 6% and
properties are selling nearly 15% faster.

-6%

DECREASE
IN
INVENTORY

SOLD | List Price: $1,395,000 | Town of Jackson

YEAR-END 2018
SINGLE FAMILY
Single-family homes were the most purchased properties in 2018,
accounting for 44% of all transactions. Average sale prices increased
by 9%, and the median sale price rose 22% to $1,585,000. Home

# of Transactions 304

32%

Total Dollar Volume

51%

Minimum Price Sold $438,000

-3%

Maximum Price Sold $14,995,000

-67%

sales in Teton Village more than doubled compared to last year.

Average Sale Price $2,341,574

9%

Another area with a large increase in transactions was South of

Median Sale Price $1,585,000

22%

Average Days on the Market 177

-14%

Jackson, which was up 46%. The majority of homes sold in the Town
of Jackson and in the $1 million â&#x20AC;&#x201C; $2 million price segment. The
amount of homes selling for over $5 million had a dramatic 107%

transactions increased slightly, up 4%, but average sale prices are down

Average Sale Price $933,658

market has experienced strong appreciation over the past several years.

18%. This decrease can be contributed partly to a sell-out of townhomes
in Teton Villageâ&#x20AC;&#x2122;s Shooting Star development and a shift to lower-priced
products such as condo-tels. The median price of condos / townhomes
increased by 8%, up to $645,000. Other market indicators point toward
stabilization, including growing inventory (+17%), fewer units under
contract at year-end (-20%), and a greater time on market (+36%).

Median Sale Price $645,000

-18%
8%

Average Days on the Market 156

36%

# Pending Transactions 12

-20%

Inventory 42

17%

SOLD | List Price: $320,000 | Town of Jackson

SOLD | List Price: $1,425,000 | North of Jackson

YEAR-END 2018
VACANT LAND
The number of land transactions in Jackson Hole dipped by about 22% this
year compared to 2017. Nonetheless, the top rule in real estate – location,

# of Transactions 96

-22%

Total Dollar Volume

29%

Minimum Price Sold $360,000

32%

location, location – rings true as ever. Land buyers in 2018 honed in on some

Maximum Price Sold $35,000,000*

of the most spectacular properties in the area, which is evidenced by a 28%

Average Sale Price $1,643,155

28%

Median Sale Price $800,000

-6%

increase in average sale price. Nearly 22% of the year’s land sales were
over $3 million. Land inventory increased modestly, up 7%, but land sold

398%

16% faster than in 2017. Also worth noting, about 75% of sales were cash

Average Days on the Market 375

-16%

transactions, which was significantly higher than any other segment of the

# Pending Transactions 5

-17%

market.

Inventory 106
*List Price

7%

YEAR-END 2018 LUXURY

# of Transactions 91

63%

2018 was a remarkable year for luxury properties in Jackson Hole. The

Total Dollar Volume

65%

Maximum Price Sold $35,000,000*

-22%

number of transactions valued at over $3 million increased 63% compared
to 2017. The median sale price of luxury properties increased by 5% to
$4,500,000. Just under half of the luxury transactions were over $5 million.
Most luxury sales occurred in Teton Village, followed by the areas South of
Jackson and North of Wilson. There were 18 luxury land sales and 73 luxury

Average Sale Price $5,432,839

-3%

Median Sale Price $4,500,000

5%

residential sales. Even more indication of the strength of the luxury market is

Average Days on the Market 272

-29%

the decrease in inventory (-4%), the dramatic increase in properties under

# Pending Transactions 17

143%

contract (+143%), and the decrease in time to sell a luxury property (-29%).
Note: In the luxury segment, the small number of transactions may affect comparisons on a percentage basis.

sale price rose by 140%, however, this figure is skewed by the sale of
the Snow King Hotel, a large resort property. The amount of commercial
inventory dropped significantly, down 63% compared to the end of 2017.
It is important to note that many commercial real estate transactions are

SOLD | List Price: $3,300,000 | Town of Jackson

YEAR-END 2018
FARM & RANCH

# of Transactions 24

20%

Total Dollar Volume

-14%

Farm and ranch properties throughout the region remain in high demand

Maximum Price Sold $35,000,000*

-22%

Average Sale Price $1,898,640

-67%

with the number of transactions increasing 20% over last year. The average
price and total dollar volume experienced a significant decline primarily
due to the type of ranches that sold. In 2017 some large ranches with
considerable infrastructure sold, which boosted those figures out of the
ordinary.
The Farm and Ranch segment of this report encompasses the greater Teton region, including seven

Median Sale Price $930,000

6%

Average Days on the Market 368

25%

# Pending Transactions 6

20%

counties in Wyoming, Idaho and Montana. These figures are separate from the overall Teton County,

Inventory 118

Wyoming report but do include Teton County land sales that are considered farms or ranches.